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Deals & Dealmakers

Savills arranges HQ relocation for marketing co.

Savills has completed a 10-year lease to relocate the New York-based advertising agency Converge Marketing to 25 West 39th Street, a 16-story, 205,000 s/f office building in Midtown.

Converge, which specializes in taking a data driven approach to media strategy, omni-channel marketing, brand audits, campaign management and other digital services, is expected to move from its current 33 East 33rd Street location to the new property in fall 2019.

KEN RUDERMAN

Savills Vice Chairman and co-Branch Manager Ken Ruderman, Assistant Director Andrew Zang and Associate Director Pete Cento advised the agency in its real estate search and financial analysis.

“With Converge’s lease expiration soon approaching, it was pivotal for the agency to relocate quickly to a new space with an open floorplate to accommodate its 70+ employees,” Ruderman said.

“Despite the tight timeframe, we were able to secure an excellent option that fits the client’s size and space requirements, while repositioning the company in one of the most highly demanded neighborhoods in the city.”

The agency’s new lease encompasses 13,116 s/f across the entire 6th floor, which features a mix of private offices, conference rooms and an open collaborative area for employees, and exclusive access to the property’s roof deck.

Built in 1907 as the Engineering Societies’ Building, 25 West 39th Street was converted into class A office space in 1961.

The landlord, Thor Equities, was represented by John D. Ryan III, Patrick Steffens and Arthur Mirante of Avison Young in the transaction.

Founded in 2006, Converge Marketing’s client roster includes major brands such as ADT, AT&T, Renewal by Andersen, Great Wolf Resorts, Medifast and Wayfair. The firm operates two other locations in Mount Kisco and San Diego.

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